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Updated about 9 years ago on . Most recent reply

User Stats

203
Posts
135
Votes
Ben Roberts
  • Rental Property Investor
  • Memphis, TN
135
Votes |
203
Posts

6 properties to be sold together. Is this a deal?

Ben Roberts
  • Rental Property Investor
  • Memphis, TN
Posted

I'm a newbie wholesaler in Memphis, TN.  I got a phone call from one of my yellow letters and the gentleman told me that he has 6 properties he'd like to sell.  He's not desperate but I don't think that automatically precludes this from being a good deal for someone.

The 6 properties are currently rented for a total of $5285/mo.  He's asking $410K total for all 6.  I did some research and feel like the total value is closer to $470K. I feel like if I could help him sell all of them at once, I could probably get him to come down some more on the price. Below is complete breakdown.  

Property #1 Rent $830 - Asking $57K - Value $60K

Property #2 Rent $830 - Asking $50K - Value $60K

Property #3 Rent $830 - Asking $75K - Value $90K

Property #4 Rent $830 - Asking $45K - Value $60K

Property #5 Rent $830 - Asking $53K - Value $60K

Property #6 Rent $830 - Asking $130K - Value $137K

What other numbers do I need? If I were to try to sell them all as a bulk deal, I'd still want to make $5K total, is there room for that?  I've never come across something like this though I'm sure is a regular occurrence for some of you.

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